Member Sign In

You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities.

If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.

Macy's to Add Store in Puerto Rico

Leading department store retailer Macy’s Inc. (M - Free Report) announced the opening of its second store in Ponce, Puerto Rico in fall 2015.

The new 150,000-square feet store will furnish the residents of the region with an additional opportunity to own a wide range of merchandise that includes men’s, women’s and children’s apparel and accessories, cosmetics, home furnishings and other consumer goods.

As per the company, construction is slated to begin in 2014 and would hire about 275 employees. The move reflects the company’s strategic initiative to expand in regions which provide ample growth opportunities in terms of sales.

Macy’s has been taking steps such as integration of operations, consolidation of divisions, customer-centric localization initiatives, as well as developing its e-Commerce business and online order fulfillment centers to increase sales, profitability and cash flow. Moreover, Macy’s continues to focus on price optimization, inventory management and merchandise planning to drive traffic.

The company came up with better-than-expected first-quarter fiscal 2013 results and maintained its guidance for fiscal 2013. The quarterly earnings of 55 cents a share surpassed the Zacks Consensus Estimate of 53 cents and surged 28% from 43 cents earned in the prior-year quarter on the back of My Macy's localization initiatives, omnichannel integration and effective cost management.

During the last reported quarter, Macy’s opened 1 new store in Victorville, Calif. and operates through 840 department stores across 45 states. Moreover, Macy’s operates 12 Bloomingdale’s Outlet stores.

Resources

Client Support

Follow Us

Zacks Research is Reported On:

Yahoo

MSN

Marketwatch

Nasdaq

Forbes

Investors.com

Morningstar

Zacks Investment Research is an A+ Rated BBB Accredited Business.

Copyright 2016 Zacks Investment Research

At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has nearly tripled the S&P 500 with an average gain of +26% per year. These returns cover a period from 1988-2015 and were examined and attested by Baker Tilly Virchow Krause, LLP, an independent accounting firm.

Visit performance for information about the performance numbers displayed above.